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Inflation is red hot, soaring to 6.8% in November, the highest in nearly four decades
Updated December 10, 2021 at 9:09 AM ET WASHINGTON, D.C. (NPR) — If you think your grocery bill has gone through the roof this year, you can appreciate what’s happened… Read More
Does the IRS really want to spy on your bank account? The latest tax fight, explained
WASHINGTON, D.C. (NPR) — A new fight is brewing over taxes. The Biden administration wants to require banks to provide the Internal Revenue Service with information about how much money… Read More
Spring Letdown: Hiring Slows In April, Raising New Challenges For Economy
U.S. employers added 266,000 jobs last month, far fewer than analysts had expected. The unemployment rate rose to 6.1%.
Roaring Back: Employers Add 916,000 Jobs As Economy Emerges From Winter Slump
Hiring by U.S. employers accelerated sharply amid an improving public health outlook and a new round of $1,400 relief payments.
A Sign Of Hope After ‘Winter Hibernation’: Employers Add 379,000 Jobs
Meanwhile, the unemployment rate dipped to 6.2% last month as the winter wave of coronavirus infections eased.
Fed Chair Jerome Powell Warns Of Long Road Ahead To Recover Millions Of Lost Jobs
Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.
U.S. Economy Slows Sharply As Pandemic Resurges
The Commerce Department says the U.S. economy grew just 1% in the last three months of the year, as a surge in coronavirus infections weighed on in-person businesses like restaurants.
They Lost Sons To Drug Overdoses: How The Pandemic May Be Fueling Deaths Of Despair
As drug overdose deaths rise during the pandemic, a former White House economist says social isolation could be partly to blame.
Vaccine Could Unlock Trillions In Spending, Leading To ‘Biden Boom’
Pent-up demand from households that have been cooped up over the last eight months could drive a spending boom in the spring, providing a big boost to the economy.
‘I’m Still Unemployed’: Millions In Dire Situation As Savings Start To Run Out
Many unemployed Americans have been tapping into their savings to pay bills. But those savings are going fast, and hopes for a new round of pandemic relief before the election are fading.
Job Gains Slowed Again In August As Employers Added 1.4 Million Jobs
Fewer jobs were added to the economy last month even as the unemployment rate fell to 8.4%. Job growth has slowed since June in a sign of what could be a long and painful recovery from the recession.
Fed Prepared To Let Economy Run Hotter
The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it’s now more concerned with prices that are too low than with runaway inflation.
Pandemic Electric Bills Are Searing Hot, As Families Stay Home
With lights out in many offices and millions of people plugging in at home, residential power bills are soaring, even as overall electricity consumption slumps during the recession.
New Jobless Claims Dip Below 1 Million For 1st Time Since March
Initial unemployment claims had been above 1 million for 20 straight weeks. The total receiving unemployment also dipped, to 28.3 million, as of July 25.
Payroll Tax Delay To Boost Take-Home Pay, But Don’t Spend It Yet
President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers’ paychecks. But the move is temporary, and could spark headaches in 2021.
The End Of $600 Unemployment Benefits Will Hit Millions Of Households And The Economy
Millions of Americans who lost jobs during the pandemic are in danger of having their incomes cut for a second time. The sudden halt in payments would be felt in households and throughout the economy.
Red Ink Overflowing: In June, U.S. Borrows A Typical Year’s Worth
The federal deficit balloons as the government tries to cushion the blow from the coronavirus pandemic. June’s shortfall totals $864 billion — more than in an entire typical year.
It’s Official: U.S. Economy Is In A Recession
The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
New Unemployment Claims Dip Below 2 Million In Sign Pace Of Job Losses May Be Easing
The Labor Department says about 1.9 million people filed for unemployment last week, but there are some signs that people may be returning to their jobs.
‘A Lot To Be Hopeful For’: Crisis Seen As Historic, Not Another Great Depression
The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.
Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy
The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
Tepid U.S. Jobs Report Adds To Economic Jitters
The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.
Trump Dismisses Recession Fears, Says Fed Must Help The Economy
The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
Trump Administration Delays Some China Tariffs
The Trump administration is postponing some tariffs on Chinese imports set to take effect on Sept.1. Tariffs on laptops, cellphones, some clothing and other items are now set to begin Dec. 15.
Trump Taps Health Care Expert As Acting Top White House Economist
President Trump had been expected to nominate Tomas Philipson as permanent chair of his Council of Economic Advisers. Philipson, an expert on health economics, succeeds Kevin Hassett.